https://www.taxtmi.com/caselaws?id=26582 The court held that the legal expenditure incurred by the assessee for compelling the company to register shares was capital in nature as it was necessary to perfect the legal title for direct receipt of dividends and voting rights. The expenditure was deemed essential to protect the assessee's investment and rights affected by the refusal to transfer shares. Consequently, the deduction claimed for legal fees was disallowed under the Income-tax Act, favoring the Revenue. The court directed the assessee to pay the costs of the reference. en-us Fri, 27 Sep 1985 00:00:00 +0530 Sat, 06 Feb 2010 11:37:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26582 The court held that the legal expenditure incurred by the assessee for compelling the company to register shares was capital in nature as it was necessary to perfect the legal title for direct receipt of dividends and voting rights. The expenditure was deemed essential to protect the assessee's investment and rights affected by the refusal to transfer shares. Consequently, the deduction claimed for legal fees was disallowed under the Income-tax Act, favoring the Revenue. The court directed the assessee to pay the costs of the reference. Case-Laws Income Tax Fri, 27 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26582